Apple (AAPL): A Strong Buy Opportunity
In this analysis, I will be taking a purely technical approach to Apple (AAPL), and why this might be a good buy opportunity.
Analysis
- To begin with, we can see that the stock is moving in an overall uptrend
- It has completed a textbook Elliott Impulse Wave (12345) count, and has been consolidating in a bullish pennant structure
- Within the triangle, we can count Elliott Triangle Waves (ABCDE), with the final wave having completed
- The Relative Strength Index (RSI) has been flushed out from overbought levels
- The Stochastic Oscillator shows a golden cross, with potential for a breakout to take place very soon
- Prices have bounced on the 100 Simple Moving Average (SMA), and is trading above the 20 SMA as well
- Based on the Fibonacci retracement, prices are trading above the 0.382 support.
- If we can see a breakout and close above the 0.786 fib resistance at $130, we could potentially create a new all time high level
If you like this analysis, please make sure to like the post, and follow for more quality content!
I would also appreciate it if you could leave a comment below with some original insight :)
Analysis
- To begin with, we can see that the stock is moving in an overall uptrend
- It has completed a textbook Elliott Impulse Wave (12345) count, and has been consolidating in a bullish pennant structure
- Within the triangle, we can count Elliott Triangle Waves (ABCDE), with the final wave having completed
- The Relative Strength Index (RSI) has been flushed out from overbought levels
- The Stochastic Oscillator shows a golden cross, with potential for a breakout to take place very soon
- Prices have bounced on the 100 Simple Moving Average (SMA), and is trading above the 20 SMA as well
- Based on the Fibonacci retracement, prices are trading above the 0.382 support.
- If we can see a breakout and close above the 0.786 fib resistance at $130, we could potentially create a new all time high level
If you like this analysis, please make sure to like the post, and follow for more quality content!
I would also appreciate it if you could leave a comment below with some original insight :)
🔴 Premium Newsletter: mikebwang.com/newsletter
🟢 TA Education: mikebwang.com/tacourse
🟡 Community: mikebwang.com/theinsiders
🟣 YouTube: youtube.com/investingwithmike
🔵 Twitter: @michael_b_wang
🟢 TA Education: mikebwang.com/tacourse
🟡 Community: mikebwang.com/theinsiders
🟣 YouTube: youtube.com/investingwithmike
🔵 Twitter: @michael_b_wang
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.